The Trump Administration to take targeted steps to stimulate the US economy due to the coronavirus outbreak that is likely to temporarily drag down some sectors, the White House said Friday and advised long term investors not to panic.
Friday, President Trump signed an $8.3-B measure to help tackle the coronavirus outbreak that has killed 12 people in the US and infected more than 200.
The legislation provides federal public health agencies with money for vaccines, tests and potential treatments and helps state and local governments prepare and respond to the threat.
The spread of the virus has shaken financial markets, interrupted travel and threatens to affect everyday life in the United States.
In an interview with Sean Hannity of Fox News Wednesday, President Trump downplayed the lethality of the virus, saying the World Health Organization’s updated estimate of a 3.4% death rate in coronavirus cases is “a false number.”
Striking back at the hysteria and “weaponization” of his administration’s coronavirus response, President Trump pointed a finger at former President Barack Hussein Obama and Vice President Joe Biden for their own outbreak-related failures and lashed out at the World Health Organization (WHO) for reporting “a false number” for the virus death rate.
“The Democrats weaponize everything we do,” Trump told Fox News’ “Hannity” on Wednesday night.
“We are talking about very small numbers in our country, very, very small, because of what we did with the borders,” he added, referencing a quick decision to tighten up borders in the face of COVID-19.
The President has balked at pursuing a major fiscal plan to counter the market turmoil stemming from the virus’s spread.
He said Tuesday it’d be a good time for Congress to cut income taxes again but has not made his own proposal, and he is not considering a payroll tax cut or a rollback of tariffs on Chinese imports, his Treasury secretary said.
President Trump is content to wait out the crisis. His clearest calls have been directed at the Fed. “More easing and cutting!” President Trump tweeted Tuesday after the Fed announced an emergency 50 bpt rate cut.
President Trump has donated his Quarterly salary to the Department of Health and Human Services to help fight Coronavirus.
I wonder when any of his critics will donate their personal income to prevent the spread of this disease instead of politicizing it.
“This is their new hoax,” President Trump told a rally in North Charleston, SC, the evening before the Democratic presidential primary.
“A virus starts in China, bleeds its way into countries around the world, doesn’t spread into the United States because of the actions I took and the Democrats’ single talking point is that it’s Donald Trump’s fault,” he said.
“Things happen in life and you have to be flexible. We are preparing for the worst,” President Trump said, adding, “We are ready, totally ready.
Making and Keeping America Great!